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Target (TGT) Stock Sinks As Market Gains: Here's Why
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Target (TGT - Free Report) closed at $150.40 in the latest trading session, marking a -1.18% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.01%. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.08%.
Shares of the retailer have appreciated by 0.26% over the course of the past month, underperforming the Retail-Wholesale sector's gain of 5.59% and the S&P 500's gain of 1.21%.
The investment community will be paying close attention to the earnings performance of Target in its upcoming release. The company is forecasted to report an EPS of $2.28, showcasing an 8.57% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $25.97 billion, up 2.24% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.53 per share and a revenue of $106.83 billion, signifying shifts of +6.6% and -0.54%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Target. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.15% rise in the Zacks Consensus EPS estimate. Currently, Target is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Target is at present trading with a Forward P/E ratio of 15.96. This denotes a discount relative to the industry's average Forward P/E of 20.52.
It is also worth noting that TGT currently has a PEG ratio of 1.96. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Retail - Discount Stores industry stood at 2.47 at the close of the market yesterday.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 212, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TGT in the coming trading sessions, be sure to utilize Zacks.com.
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Target (TGT) Stock Sinks As Market Gains: Here's Why
Target (TGT - Free Report) closed at $150.40 in the latest trading session, marking a -1.18% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.01%. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.08%.
Shares of the retailer have appreciated by 0.26% over the course of the past month, underperforming the Retail-Wholesale sector's gain of 5.59% and the S&P 500's gain of 1.21%.
The investment community will be paying close attention to the earnings performance of Target in its upcoming release. The company is forecasted to report an EPS of $2.28, showcasing an 8.57% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $25.97 billion, up 2.24% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.53 per share and a revenue of $106.83 billion, signifying shifts of +6.6% and -0.54%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Target. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.15% rise in the Zacks Consensus EPS estimate. Currently, Target is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Target is at present trading with a Forward P/E ratio of 15.96. This denotes a discount relative to the industry's average Forward P/E of 20.52.
It is also worth noting that TGT currently has a PEG ratio of 1.96. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Retail - Discount Stores industry stood at 2.47 at the close of the market yesterday.
The Retail - Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 212, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TGT in the coming trading sessions, be sure to utilize Zacks.com.